Griffon Co. (NYSE:GFF) COO Robert F. Mehmel Sells 15,108 Shares of Stock

Griffon Co. (NYSE:GFF) COO Robert F. Mehmel sold 15,108 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $66.98, for a total transaction of $1,011,933.84. Following the completion of the transaction, the chief operating officer now directly owns 797,806 shares of the company’s stock, valued at approximately $53,437,045.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Griffon Trading Up 0.7 %

Shares of NYSE GFF opened at $67.61 on Wednesday. The stock has a market cap of $3.35 billion, a P/E ratio of 17.84 and a beta of 1.29. The firm has a 50 day moving average price of $66.02 and a two-hundred day moving average price of $67.37. The company has a debt-to-equity ratio of 6.71, a quick ratio of 1.39 and a current ratio of 2.50. Griffon Co. has a 52-week low of $38.33 and a 52-week high of $77.99.

Griffon (NYSE:GFF) last announced its earnings results on Wednesday, August 7th. The conglomerate reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($0.07). Griffon had a return on equity of 96.05% and a net margin of 7.27%. The company had revenue of $647.80 million for the quarter, compared to the consensus estimate of $688.94 million. During the same period in the prior year, the business earned $1.29 earnings per share. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, equities analysts forecast that Griffon Co. will post 4.87 EPS for the current year.

Griffon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, August 28th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Wednesday, August 28th. Griffon’s payout ratio is presently 15.83%.

Analysts Set New Price Targets

Several brokerages recently commented on GFF. StockNews.com downgraded shares of Griffon from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Stephens reiterated an “overweight” rating and issued a $85.00 price target on shares of Griffon in a research note on Tuesday, September 10th. Finally, Robert W. Baird reduced their price objective on Griffon from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $81.50.

Institutional Trading of Griffon

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. boosted its stake in shares of Griffon by 6.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 270,805 shares of the conglomerate’s stock valued at $17,294,000 after purchasing an additional 16,740 shares during the last quarter. Quarry LP boosted its position in Griffon by 98.7% during the second quarter. Quarry LP now owns 777 shares of the conglomerate’s stock valued at $50,000 after acquiring an additional 386 shares during the last quarter. Algert Global LLC boosted its position in Griffon by 94.3% during the second quarter. Algert Global LLC now owns 128,870 shares of the conglomerate’s stock valued at $8,230,000 after acquiring an additional 62,559 shares during the last quarter. Barington Capital Group L.P. grew its holdings in Griffon by 50.0% during the 2nd quarter. Barington Capital Group L.P. now owns 30,000 shares of the conglomerate’s stock worth $1,916,000 after acquiring an additional 10,000 shares during the period. Finally, Caxton Associates LP raised its position in shares of Griffon by 14.0% in the 2nd quarter. Caxton Associates LP now owns 36,687 shares of the conglomerate’s stock worth $2,343,000 after acquiring an additional 4,498 shares in the last quarter. Institutional investors and hedge funds own 73.22% of the company’s stock.

About Griffon

Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally. The company operates through two segments: Home and Building Products, and Consumer and Professional Products. The Home and Building Products segment manufactures and markets residential and commercial sectional garage doors, rolling steel service doors, fire doors, shutters, steel security grilles, and room dividers for the use in commercial construction and repair, and home remodeling applications.